Senses surges over 200 points, NIFTY above 11300

NIFTY.

Strong global cues upsurged the domestic share markets on Friday, the last trading day of the week. The Sensex opened at 37327.16 while Nifty50 at 11297.80. The Sensex opened at 0.77% to 37449.53, while the Nifty50 at 11333.55 with a profit of 88.85 points, i.e. 0.79%.

The top gainers in the 30-share Sensex pack were HDFC (up by 1.72%), ONGC (up by 1.51%), Sun Pharma (up by 1.18%), YES Bank (up by 1.11%), and Kotak Mahindra Bank (up by 1.11%). HDFC, Reliance Industries, HDFC Bank, Kotak Mahindra Bank and Tata Consultancy Services contributed to the gains in the Sensex.

AVP technical Analyst of KIFS Trade Capital, Dyaneshwar Padwal said on the day trading, “The intermediate trend line support (for the Nifty) is placed near 11,200, in the proximity of 38.2 per cent Fibonacci retracement of the previous bull move. So traders can go long near 11,200”.

Meanwhile, Asian stocks were steady with gains while safe haven flows lifted the dollar to a two-week high, according to a report from news agency Reuters.

In overnight trade, the S&P gained 13.86 points to 2827.22, the Dow Jones Industrial Average fell by 7.66 points to 25326.16, and the Nasdaq Composite added 95.40 points to 7802.69.

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